Federal Treasurer Wayne Swan is confident that we will see the positive effects of the Government’s first stimulus package filter through the economy, as he awaits next week’s figures for the March quarter.
“The sort of outcomes we have received here in terms of retail sales are dramatically better than has been recorded anywhere else in the rest of the world,” he said. “Our initiatives in housing have all supported jobs at a critical time for the Australian economy.”
Despite the global recession having an adverse effect on Australia’s economy, Swan says there are signs the first stimulus package has worked.
Some economists have predicted that gross domestic product will show a fall in the March quarter.
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